Summit Apartments Inc
- Assets
- $481.6k
- Revenue
- $250.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Barneveld, WI
- Founding
- 03/1976
- Data as of
- 12/2021
- EIN
- 39-1225718
Organization Overview
Summit Apartments Inc is located in Barneveld, WI. The organization was established in 1976. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summit Apartments Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Summit Apartments Inc generated $250.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $241.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SAFE, AFFORDABLE HOUSING TO LOW AND MODERATE INCOME SENIOR CITIZENS, AND HANDICAPPED AND DISABLED INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SAFE, AFFORDABLE HOUSING TO LOW AND MODERATE INCOME SENIOR CITIZENS, AND HANDICAPPED AND DISABLED PERSONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ralph Kleppe Treasurer | OfficerTrustee | $0 | |
Peggy Jones President | OfficerTrustee | $0 | |
Robert Schaller Vice Preside | OfficerTrustee | $0 | |
Rowena Kirschbaum Secretary | OfficerTrustee | $0 | |
Mary Ann Brindley Director | Trustee | $0 | |
Pete Dyreson Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $250,355 |
| Investment income | $34 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $250,389 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $44,240 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,299 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,361 |
| Office expenses | $1,807 |
| Information technology | $2,775 |
| Royalties | $0 |
| Occupancy | $151,882 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,953 |
| Insurance | $1,267 |
| All other expenses | $3,467 |
| Total functional expenses | $241,051 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $120,018 |
| Savings and temporary cash investments | $17,574 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,496 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $22,275 |
| Net Land, buildings, and equipment | $318,197 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $481,560 |
| Accounts payable and accrued expenses | $10,836 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $678,272 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $162,386 |
| Total liabilities | $851,494 |
| Net assets without donor restrictions | -$369,934 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $481,560 |
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